Consider the following statements about a scheme launched by the Gover

Consider the following statements about a scheme launched by the Government of India :
It was launched to provide social security during old age and to protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme enables old age income security for senior citizens through provision of assured pension/ return linked to the subscription amount based on government guarantee to Life Insurance Corporation of India (LICI).
Identify the scheme.

Pradhan Mantri Swasthya Suraksha Yojana
Pradhan Mantri Vaya Vandana Yojana
Liveability Index Programme
Rashtriya Vayoshri Yojana
This question was previously asked in
UPSC CDS-1 – 2019
The correct answer is B.
The description precisely matches the Pradhan Mantri Vaya Vandana Yojana (PMVVY). This is a pension scheme for senior citizens (aged 60 years and above) administered by Life Insurance Corporation of India (LIC). It provides an assured pension based on a guaranteed rate of return on the subscription amount, protecting elderly persons against a future fall in their interest income. The scheme was initially launched in 2017 and has been extended.
Pradhan Mantri Swasthya Suraksha Yojana focuses on health infrastructure. Liveability Index Programme is related to urban development. Rashtriya Vayoshri Yojana provides physical aids to poor senior citizens. Only PMVVY is a pension/income security scheme for senior citizens with guaranteed returns linked to LIC and government backing.
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